Colombia Court Fines Odebrecht Consortium $250 Million for Graft

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A Colombian tribunal fined a consortium led by Brazilian construction firm Odebrecht [ODBES.UL] $250 million and banned it from government contracts for 10 years, saying the group used corrupt tactics to win infrastructure contracts.

Odebrecht has been at the center of a massive Latin American graft scandal, acknowledging in 2016 that it bribed officials in a dozen countries. The company paid some $30 million in bribes in Colombia, according to the attorney general’s office.

The consortium was tasked with the construction of the 528-km (328-mile) Ruta del Sol 2 highway to the Caribbean coast, a contract worth more than $1 billion.

Those fined late on Thursday by the regional court included Odebrecht, Episol, a subsidiary of Corficolombiana and Grupo Aval GAA.CN, and Cass Constructores, as well as three former Odebrecht Colombia executives.

Read the original article here: reuters.com


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